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the annual deficit in half to reduce the overallebt of united states by $trillion over the next 10 years. neil: i heard that it stu with me immediately said he justo an allied made ising the debt is coming down it will shrk $3 trillion over the next 10 years? it is what. what will happen is it will grow $3 trillion less than rethought. that is a big difference. sa debt will grow at 21. 3 trillion that is not the t the cbo. it is not the $3 trillion decrease but $8 trillion inease may be sheikh factors in those savings but far that does not mean fear is less redink. but with washington less than we feared so no need to fear. not so fast. it is a twisted way that the senator says we're making progress. cause if you define progress then you must be foetting yu are digging a hole consists of a. it is ime for the wake-up call the debt is getting bigger. that is like me saying i m projected to gain 50 pounds over the next decade but i am only gaining four days so i lost 10 pounds. but i d not gain 40 pounds? it could have been 50 but fat chance we would die this. what do you think that we shou
the annual deficit in half to reduce the overall debt of united states by $3 trillion over the next 10 years. neil: i heard that it stuck with me i immediately said he just out to an allied made i the debt is coming down it will shrink $3 trillion over the next 10 years? it is what. what will happen is it will grow $3 trillion less than rethought. that is a big didifference. said debwill grow at 21. 3 trillion that is not the but the cbo. it is not the $3 trillion decrease but $8 trillion increase may be sheikh factors in those savings but so far that does not mean fear is less red ink. but with washington less than we feared so no need to fear. not so fast. it is a twisted way that the senator says we're making progress. because if you define progress then you must be forgetting you are digging a hole consists of a. it is time for the wake-up call the debt is gettingg bier. that is like me sayi i m projected to gain 50 pounds over the next decade but i am only gaining four days so i lost 10 pounds. but i did not gain 40 pounds? it could have been 50 but fat chance we would die this. what do
the affect this rain is having on our rainfall deficit. >> now spencer just showed us the rain hitting every corner of the bay area, we got good down pours in the city this afternoon. but wettest weather has been north and south of us. we have team coverage of the storm, abc7 news, nick smith and david louie are all live tonight. sergio, let's begin with you in the north bay. >> it's started coming down regularly now in novato people say they're really welcoming the rain, but they're getting ready for any problems that it my bring. >> a full day of rain was a welcome sight. >> a lot of rain this time. we need it. >> stewart rv and boat sales says her boat-selling has just started off. she's hoping more rain now will help with lakes this summer. >> just trying to get back into our really good season. this is going to help. >> in heelsberg rains came down enough for decent runoff but russian river is looking shallow. in santa rosa a drizzle prompted people to pull out umbrellas at lunchtime. and this team south of petta luma. with the problems, residents say it's well worth it. >> we need it.
this rain is having on our rainfall deficit. >> now spencer just showed us the rain hitting every corner of the bay area, we got good down pours in the city this afternoon. but wettest weather has been north and south of us. we have team coverage of the storm, abc7 news, nick smith and david louie are all live tonight. sergio, let's begin with you in the north bay. >> it's started coming down regularly now in novato people say they're really welcoming the rain, but they're getting ready for any problems that it my bring. >> a full day of rain was a welcome sight. >> a lot of rain this time. we need it. >> stewart rv and boat sales says her boat-selling has just started off. she's hoping more rain now will help with lakes this summer. >> just trying to get back into our really good season. this is going to help. >> in heelsberg rains came down enough for decent runoff but russian river is looking shallow. in santa rosa a drizzle prompted people to pull out umbrellas at lunchtime. and this team south of petta luma. with the problems, residents say it's well worth it. >> we need it. >> in m
the deficit? because we all know nothing animates the republican party more than reducing the deficit. what's that you say? oh, it would increase the deficit by $74 billion over 10 years. impossible. of course, this bill is not going to become law. it is very instructive as a reminder that any actual commitment to legislating our complex business an teen health insurance regime will help create disruptions. the republican strategy to kill obama care has been to point to the disruptions it has created and it may create and say the end of the world is nye. if they ever got around to implementing their own plan, that would have its own disruptions. this friday, house majority leader eric cantor will meet with leaders to work on putting together what will be billed as the house republican alternative to obama care. here's my prediction. he could come out of that meeting with two dozen alternatives, but the republican party will actually get behind exactly none of them. not in any real way. that would mean grappling with the reality of reforming health care, and not just throwing stones from the
window. we have punted on the ultimate issues which are driving the deficit with $17 trillion in debt. that is a failure on the democratic side and i am a democrat. they look at tax reform that will not only simplify the tax code. this is to simply pay our bills. >> let's talk about bills that specifically the kind that get printed. i must -- and the new chair is scheduled to testify tomorrow. >> what we will hear from her is a projection of the continues to recover. frankly, the fact that we have moved from washington being net negative on the economic recovery, maybe the neutral. that can be a positive aspect. a number of members will press on when we will see some additional relaxation and quantitative easing. >> is that what you're going to ask? are those the questions you'll ask? >> by the time they get down to me, i'm sure that they will be asked. one of the areas that i want to highlight is one of the coming fiscal crisis that we have to get ahead of her. we have now had a true billion dollars in student debt that exceeds credit card debt. we are starting to see the price dimin
that there are lots of issues that are important. let's start wwth the debt. let's start with the incredible deficit and the size of government. >> we have a tax problem and a spending problem. and it basically came to a grounding all. lou: what are you going to do about lois lerner? dirty have the attorney general in contempt. what are you going to do a former senior irs official? he's basically told you guys to buzz off. i have a bill, hr 1950 that criminalizes this action. lou: retroactively? >> the question is what are you going to do about lois lerner who has told you guys to buzz off. >> we are going to make certain that there are two aspects of the story are told. hold people accountable and find out who did this. and you move forward with the legislation that holds people accountable if it haapens again. and i think the american people are shocked at what has occurred at the irs that the administration is doing nothing and we are going to work diligently to hold these people accountable to make sure this doesn't happen again. lou: no one is a bbgger fan of darrell issa than i am. and i think
with the incredible deficit and the size of government. >> we have a tax problem and a spendi problem. and it basically came to a grounding al. lou: what are you going to do about lois lerr? dirty have the attorney general in contempt. what are you going to do a former senior irs offcial? he's basically told you guys to buzz off. i have a bill, hrr 1950 that iminalizes this action. lou: retroactively? >> the questio is what are you going to do about lois lerner who has told you guys to buzz off. >> we are going to make certain that there are two aspects of the story are told. hold people accountable and find out who did this. and you move forward with the legislation that holds people accountable if it haapens again. and i think the american people are shocked at what has occurred at the irs that the administration is doing nothing and we are going to work diligentlto hold these people accountable to make re this doesn't happen again. lou: no one is a bbgger fan of darrell issa than i am. and i think you know that. you and your committee have done brilliant work. i do think that you r
, long life. you could do this with 1953. dine with a deficit of it that said old age. dying with aen, -- definition of old age creates ever since then, we have called it something. if you live past the mid 80's, we do not put you on a ventilator. it cost society a tremendous amount, but the key is getting people to taking action today that would help them tomorrow. 19% of kids in high school today smoked tobacco. they are portending for themselves a bad outcome, and they do not get it yet. how do you get a 20-year-old to change something 30 years from now? do it now, and it will help you 30 years from now. they would look at you like you were crazy. let me go out on a limb. i started this conversation by talking about obamacare, and yet it occurs to me as i sit here and talk to you and listen to you is that the real way to solve our health care problem in america is not to get sick in the first place, because the system is just not designed -- well, let me be frank about it. it is designed to make money, and the system is designed to make money when you get sick. at least we are livi
. the full panel could vote tomorrow. the brick district is facing $142 million deficit. >> the bridge decks will be slick this morning with showers. be careful. >> but the brunt of the storm is headed this way. >> the second storm is, the first storm with the leftovers now. visibility is okay. we have fog along the coast at half moon bay at four miles. our winds are running from seven miles per hour to 17 miles per hour. we are getting gusts higher than that. it is manageable. want out when you cross the east to west bridges including san mateo and bay bridge and richmond and san rafael bridge. you will be buffetted bit winds in a high from file vehicle. in the evening and overnight, over the coast we have warnings southern winds at 20 to 30 knots at 7:00 this evening through 4:00 saturday. that shows you the duration of the storm. it is bigger but it will hand around longer. mild this morning and low-to-mid 50's and the showers are in the north board of inquiry noon and we will see sunshine moving from south to north across the neighborhood and mid-50 to 60 at noon with mostly clouds at 4:
the concern is for the next storm with north bay neighborhoods seeing quite a deficit damage from the winds. amy hollyfield has a big example. amy? >> kristen, this break in the action we are getting is giving people time to assess the damage from the first storm, recover from it. we found people very busy working on that. we also found the fairfax woman would found something positive in one of the side effects. >> as the rain came down from storm one, some cars flipped and trees came down. >> we heard a "snap." we felt the tree fall. >> this tree took power lines down with it on fairfax. >> mill valley also lot of trees. >> we had six reports of trees downed blocking the roads because of the winds last night. >> c.h.p. responded to spinouts on highway 101. this driver's truck flipped upside down. he hit a puddle and lost control. other drives say they can relate. >> if you don't take care of color car, you can get out of bounds and it is really dangerous. >> we are in between storms. officials say this is a good time to prepare. mill valley has restocked the sandbag supplies and is clearin
provisions that only benefit a favored few. to bailoutncreases washington from its debt and deficit problems. if we are going to close a loophole, the american people should get the benefit of a lower rate instead of just handing them money over to washington so he can spend more. we close a lot of loopholes, we got a lot of the junk out of the code. our plan reveals 228 sections of the tax code. we cut the size of the income tax code by roughly 25%. tax reform needs to be about strengthening the economy, making the codes blur and fairer. today we had the opportunity to make the first step forward. this is the kind of tax code the american people need and deserve. before he opened us up to questions, i want to draw your attention to a list of the major provisions in the press release. when you are talking about the entire tax code, there is a lot to go over. i want to highlight a few items on the list in addition to lowering rates, this includes simpler improved taxation of investment income. we tax long-term capital gains and dividends as normal income but exempt 40% of such income six tax,
security is our deficits, our debt. it's going to crowd out other spending. it threatens our economic viability, our growth potential, and it actually places us at risk for some financial crisis in the years to come. so i -- our voters deserve better. and look at how they tend to maneuver this legislation. it's just so absurd sometimes. we should laugh about it if it weren't so serious, and it is serious. the sanders bill, the veterans' bill that we are being told we must vote for or they will accuse us of being unkind and unsupportive and unsympathetic to our veterans. that day's over. we're not going to be intimidated on this. we're going to do the right thing for veterans and america. this bill would exceed the spending limits for the current fiscal year that congress and other -- and the president agreed to just three months ago. initially -- and it gets worse in the outer years, it would clearly add another $260 million in mandatory spending and authorize another $182 million this year, fiscal year 2014 we're already in, $182 million. and it gets worse. so we agreed in 2011, augu
'd have to keep mentioning it. we are reduce ug the budget deficit through the a.c. avment i know our colleagues on the other side of the aisle are very, very careful about budget deficits. good. they should be. well, health care costs are declining and declining significantly. some of that is due to the recession, but almost every expert says much of that is due to the a.c.a. national health care expenditures, for instance, in 2012 grew by 3.7%, meaning that the growth from 2009 to 2012 was the slowest since government collected information. and that was in the 1960's. the percentage of health care spending for the first time -- the percentage of g.d.p. -- actually shrunk from 17.3% to 17 230eu%. at the same time, solvency of medicare health insurance fund increased and costs declined. so this is great news. bottom line, i know our colleagues on the other side of the aisle think they've hit political gold had they attack the a.c.a. and call for its repeal. but the american people don't want repeal and, secondly, as we move on in time, the positives of a.c.a. will become more apparent
deficit disorder. 25-times the risk for bipolar. and twice the risk for schizophrenia. the risk was still very low. but your risk went up as your dads age. >> these are men over 45. and any conjecture about why? anything specific? >> reporter: this doesn't prove it's age. but we know that the older you are, the more mutations there are in your sperm. and that may be the link here. it doesn't mean that you should rush out and have your kids young. but you need to know that if you wait longer, there is a risk involved. >> fathers and mothers, something to think about tonight. thank you, rich. >>> it was an emotional day, as members of the kennedy family assembled in the courtroom in new york to support one of their own today. ethel kennedy, widow of rfk, listening, as her daughter, kerry, took the stand. her daughter on trial for driving under the influence of a sleeping aid. and today, vividly recalling her father, his death, and the mother who carried the family forward. abc's mara schiavocampo was there. >> reporter: testifying in her own defense, at her drugged driving trial, normally p
. there is nothing wrong with having a budget surplus especially when you are looking at another deficit next year. thank you. >>supervisor mark farrell: thank you. okay. any other member of the public wish to comment on this item? seeing none, public comment is close. colleagues, can we have a motion to continue this item for a week and then, actually -- >> supervisors if i might, this is so important. it's taken us a year to get here. we are going to have to come back any ways when there is the additional money if you would let us move forward with the contract as it is with the 60 days as it is, we will be back before you, but then it doesn't delay our implementation of the actual program. >>supervisor mark farrell: mr. rose? >> mr. chairman, members of the committee, we agree with that if the committee grease. -- agrees. that is consistent. to my knowledge there is not a difference in numbers as the sheriff pointed out. our footnote clearly states what the sheriff stated in reference to our footnote. so certainly it's up to the committee. but we would agree with the 60 days. what we don't agr
and they are deficitting off at east dunn with the headlights in the northbound direction. it is a five mile backup. the other problem westbound 205 from the central valley we had an early big rig accident which now is long gone but the right lane remains closed for clean up and there is gap improvement with 45 to 50-minute drive from i-5 to the dublin/pleasanton area. >> abc7 news is the only place where you can see the oscars this sunday. we are giving away free movie tickets for a year through facebook to sell operate the academy awards. >> there are seven winners and the latest is steven from pacifica. you still have five chances to win. "like" us at facebook and you can get in touch with us. >>> we we have designs created and sent in by children across the country. they all love this. the size 42 regular features colors and schemes and styles that will benefit the nonprofit inspired by a six-year-old who is fighting brain cancer. the highest bid so far is at $3,500 and the auction choses march 8. we have a link under "see it on tv." >> i would have donated the bracelet that my daughter made fo
the deficit so conservation is a serious conversation. more now from santa clara. >> reporter: hi there, jess camp folks have been wondering what can we do with all of this now that we've finally gotten it? heard our friends and neighbors say it's raining but still won't be enough. a lot of folks are turning to a method that goes back to the cave man days of collecting the water for use at a later time. as the rain falls in the saratoga, brad daniels collects it in storage barrels, a way of life and his business. he founded rain savers about five years ago but when the serious drought talks started about five month ago the phones started ringing off the hook. >> i am getting calls saying, hi, can you get here before the rain starts? so i'm trying. >> daniel can install a simple barrel in about an hour at a cost of about $200. light blocking barrels where algae cannot grow and with screens to filter out debris and to keep mosquitoes from breeding, but he can also put in larger storage tanks, underground cisterns with pumps and commercial units as well. maybe not enough to supply all of the non
dollars in debt. we have an annual deficit this year that will be less than $1 trillion and we are all excited about that. the first time in five years it has been less than $1 trillion. but government needs money, i would say today the government need something more. in these discipline to rein in spending. it needs courage to make tough decisions. it needs commitment to make sure we do everything more efficiently and more effectively than we have done before. we want to work with you to help you do that, to help you set the right priorities which help you spend the money that we appropriate to you. we thank you for being here today. we will have questions. before we do that, i want to turn to my friend, the ranking member. let me say to him that it has been a whirlwind time, but he has been a great partner. we do not always agree on everything, but as we go through negotiations with our senate counterparts to come to this conclusion, it was a team effort. thank you for that. any comments? >> thank you for your willingness to work with us, especially your staff. and our staff. let's h
bipolar disorder or attention deficit and hyperactivity disorder. a man who became a father at 35 would have a 14-fold risk of having a child born with adhd. children with older dads are also challenged academically. and this from a researcher who look at 2 million swedish born children. still, the study shows that the vast majority of kids born to older dads will be just fine. >>> and we'll have an assignment 7 are report, birds get help from farmers as they migrate home. >>> and we are dedicating our instagram feed to honoring black culture in the bay area, tonight we celebrate the african american museum in oakland, which is dedicated to the discovery and preservation of african-americans in california and throughout the west. you can learn more at >>> a conservation group has come up with an innovative way to make water go farther in california. it is a pilot program planned before the drought that helps millions of birds migrating to california. and as you will see in the report it is helping farmers at the same time. eight million birds a year t)t)h fly-way through the california
differentiate as i look the key issue for me is who is dealing with a budget deficit or who is not raising interest rates. what is the critical issue for you? willdonesia for example mark itself out as different from the others. elsewhere,ine and don't be too concentrated in emerging markets. political risk is large and it is not very well-predicted by investors. do be well diversified. take some overweight and underweight positions. we tend to be overweight the small countries and underweight the largest ones. underweight the brics historically. that can be difficult when china is on a strong rally. good stead over the long term. >> what is going on in china? i come in everyday, we have the yuan on the move, we are trying to lure him the currency? there is something very interesting in the past couple of weeks in china. >> they have to squeeze the excess is out of the system and it is going to be painful. we talked about volatility earlier. we can expect that to spike up later in the year. there is going to be some headline news out of china as this credit excess is squeezed. i think the
deficit disorder,
? >> a real uphill battle, i think that jerry brown has proven he took a deficit now it is a surplus, rating agents have given us better marks. i think he is making progress in terms of environment and other issues. i question whether we need to devide the state to 6 pieces, but even if we did. the u.s. senate would have to approve the admission of 10 new senators. in to their body, diluting their power. why does senator from nevada or alabama or ohio want to give california 10 more senators? neil: his logic does make sense, at least base level, that is that it is a very big state. unwieldy state, in so far as interests and you know even physical connects are very desperate throughout the state, i don't know if that means you have to have 6 different states, but it makes it disfunctional. what do you make of that argument and why the 6 pieces? >> i don't know why the 6 pieces. we have north and south carolina, and north and south dakota, two states is possible, that was tried 1 in late 1850s, but. there is no way on earth that the u.s. congress is going to dilute its power and give more powe
with the bridge district facing $142 million deficit. >> the hole bridges could still be wet. we will check with mike nicco. >> breezy, also, i noticed across the bay area. the east-west bridges you may notice buffetting of the cars driving high high-profile vehict could be challenging. the winds are coming from the southwest more than out of the southeast. they are still sustained at 15 miles per hour. area of low pressure to our north with the counter-clockwise flow is pushing the storms away from us and singing air behind the low means a break and it will be dry in several hours before the next wave at 10:00. light showers throughout the morning commute by noon if we have any left over they are in the north bay and we are cloudy to partly sunny in the south. temperatures are warmer today and mostly cloudy by 7:00. winds pick up with the next storm and our elevations are above 1,000' from 1:00 o'clock tomorrow morning and southeast winds are 25 to 40 miles per hour and gusting to 60 with local power outages. >> we are up and over the sig-alert accident in the tracy area westbound 205 befo
, the deficits are going on and they are ridiculous. cut the military budgets, they do not have the money for different things. i live in baltimore city. years lived here over 33 and our mayor is such a manipulator. this is how bad it is. mayoryears ago, our manipulator that she is, she is good at selling stuff. million dollars in federal funds for infrastructure and used them to pave the roads in the downtown district, which were not in bad shape, so they could meet the requirements to have a race on labor day. what it really was, the organizers of open wheel racing -- it failed for three years. the second year she told these whopping lies about the revenue. host: julian, greensboro, north carolina. caller: it is your responsible to invest in infrastructure as the government. if you look back in the industrial revolution, the technological advances in transportation would have been impossible without the investment of private investors. the government has not been one to advance the technology. it is up to private investors to put that money out. if you look at your report card, 3.6 tril
loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. i applaud them. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there live. >>> paula deen with a significant new investment. an announcement to make. is it a sign that america has forgiven her from using the "n" word. >>> what prompted spike lee to go on this profanity filled rant? >> get the [ bleep ] out of here. no, i can't do that. get the [ bleep ] out of here. i can't do that. i always say be the man with the plan but with less energy, moodiness, and a low sex drive, i had to do something. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate
there is a deficit, no. >> no the president is not the one doing that there is somebody at a cabinet level who doing most of that work. i think we have seen. we have had secretaries of state, we had condoleezza rice. we had hillary clinton who have been able to interact with these people. >> let me throw this at you because i know this is going to happen. say hillary clinton, and she is the only woman in play right now is elected. you know the chinese are going to test her right away. they are going to move warships into certain areas and they are going to bing bing bing. let's see what we have here. they did the same thing with barack obama. they tested. they tested. they tested. all right, to see what he has barack obama dropped drones on him and i think hillary clinton absolutely would drop drones on them. i think she would probably up the drone drop knowing mrs. clinton. putin is going to do it. chinese going to do it. certainly north korea is going to do it. they will snatch okay americans. they will kidnap them. he they will do all of that just to see how it goes, kate. >> bill, they do that t
loss since the bailout in 2008. 15 billion-dollar deficit for last year. he calls rbs the industry's least trusted leader, does the ceo. >> the bank. the largest bailout in europe. still owns the vast majority of the bank and is still pulling the strings. >> by the way, wire pros playing in the olympics? >> that is what the nhl is asking -- the players love it. >> the players love it and flagwavers love it, i am not fair -- sure it is fair to college athletes. >> we need to go to the ukraine. we spoke with the new leadership to read good morning. >> good morning. his name is arseniy yatsenyuk, the prime minister designate. inis about it -- to be voted as the interim prime minister of the country for the next few months. parliament is still chewing over this decision. >> how front and center is crimea to the management in kiev? >> very front and center. i was standing in the parliament here in kiev. meanwhile, in the crimea, the parliament had just been seized by a group of about 100 gunmen. i asked the prime minister about that and he said it is the first crisis he has to deal with
're right, there are issues out there. i think it's more about deficit spending where they'll try to earn -- try to get janet yellen to see how far she'll go politically. greenspan a little bit more of a political animal. ben bernanke saying we'll not weigh in on that stuff and we don't know where janet yellen comes down, and saying do you know what, you need to bring down the deficits, how you do it is your problem. >> it raises questions about unemployment. that's the sticking point. that's what investors and traders want to hear from her, the whole issue of forward guidance. if you were still there, what would you recommend? how would you switch policy to get away from the 6 1/2 percent unemployment threshold? >> they've been burned. no other way to put it they've been burned on the 6.5% marker, whatever you want to call it, threshold and they'll back away from that. i would think that janet yellen would want to make maximum use of what will be a honeymoon period. i don't think that anybody is going to be going really after her hard. it's too early to do that. and there's nothing reall
are sponges. they just soak that up. a 30 million more deficit is hard to make up. and if a black or latino kid isn't ready for kindergarten, he's half as likely to finish middle school with strong academic and social skills. so by giving our kids access to high-quality early education and by helping parents get the cools they need to help their children succeed, we can give more kids a better shot at the career they are capable of and the life that will make us all better off. that's point number one, right at the beginning. point number two, if a child can't read well by the time he's in third grade, he's four times less likely to graduate from high school by age 19 than one who can. and if he happens to be poor, he's six times less likely to graduate. so by boosting reading levels, we can help more of our kids make the grade. keep on advancing. reach that day that so many parents dream of coming close and then you start tearing up and that's when they are walking across that stage holding that diploma. number three, we know that latino kids are almost twice as likely as white kids to be
knows babies are sponges. they just soak that up. a 30 million-word deficit is hard to make up. and if a black or latino kid isn't ready for kindergarten, he'd half as likely to finish middle school with strong academic and social skills. so by giving more of our kids access to high-quality early education and by helping parents get the tools they need to help their children succeed, we can give more kids a shot at the career they're capable of and a life that will make us all better off nap's point number one right at the beginning. point number two, if a child can't read well by the time he's in third grade he's four times less likely to graduate from high school by age 19 than one who can. and if he happens to be poor, he's six times less likely to graduate. so by boosting reading levels we can help more of our kids make the grade. keep on advancing. reach that day so many parents dream of until it comes close and then you start tearing up and that's when they're walking across the stage holding that high school diploma. number three, we know that latino kids are almost twic
and attention deficit issues. the greatest risk was seen in fathers 45 and older. >>> health advocates are pushing the fdaed to stop a powerful painkiller from going to the market. it's called zohydro. it's five to ten times more potent than a similar pill, vicodin. the fda approved it last fall. it goes on the market next month but critics are urging the fda to reconsider because the drug is so potent and potentially addictive. >>> get ready for a change you see on the labels in the market. the obama administration will announce new rules which have bigger and easier to read calorie numbers. serving sizes that reflect reality and separate sugar listings. other listings will be simplified and easier to understand. 12478 >>> president obama asking congress for $300 billion for infrastructure projects. he made this announcement at a train and bus station that was just refurbished. an example of what is possible, he said. transit is expected to run out of money later this year. mr. obama says these projects 49 provide jobs. >>> gay rights activists are celebrating the veto of a contention
mentioning it. we are reducing the budget deficit through the aca. i know our colleagues on the other side of the aisle are very careful about budget issues. good, they should be. well health care costs are declining and declining significantly. some of that is due to the recession but almost every expert says much of that is due to the aca. national health care expenditures for instance in 2012 grew by 3.7%, meaning that the growth from 2009 to 2012 was the slowest since government collected information and that was in the 60s. the percentage of health care spending for the first time, the percentage of gdp actually shrunk from 17.3 to 17.2. at the same time the solvency of medicare's hospital insurance fund decreased and costs cut. so this is great news. the bottom line, i know our colleagues on the other side of the aisle think they hit political gold when they attacked the aca and called for its appeal but the american people don't want repeal and secondly as we move on in time the positives of the aca will become more apparent. the negatives that people perceive of aca will decline an
debt and deficit problems. if we are going to close a loophole, the american people should get the benefit of a lower rate instead of just handing them money over to washington so he can spend more. we close a lot of loopholes, we got a lot of the junk out of the code. our plan reveals 228 sections of the tax code. we cut the size of the income tax code by roughly 25%. tax reform needs to be about strengthening the economy, making the codes blur and fairer. today we had the opportunity to make the first step forward. this is the kind of tax code the american people need and deserve. before he opened us up to questions, i want to draw your attention to a list of the major provisions in the press release. when you are talking about the entire tax code, there is a lot to go over. i want to highlight a few items on the list in addition to lowering rates, this includes simpler improved taxation of investment income. we tax long-term capital gains and dividends as normal income but exempt 40% of such income six tax, resulting in a percentage point decrease from the maximum rate indiv
deficit issues. the need for sustainable fiscal path through the country to focus to the maximum extent possible on fiscal changes that would address the longer run issues that will be associated ratio rising debt to gdp over decades and to try to avoid doing harm to the recovery. i would take the same general position. a in the short run, there is value of additional physical stimulation in the economy that will complement what you are already doing and make it easier to withdraw the quantitative easing. is that a fair comment? >> i do think the economy is beginning to recover and we have made progress. minimum i would hope that fiscal policy would do no harm. >> one quick question. you and your predecessors have looked at the unemployment rate of 6.5% as a point of inflection if you will. one of the aspects of the labort situation is that participation is falling. that 6.5% might not actually capture the reality of the current economy. to be an adequate measure of undertakeeds to do to monetary easing. are you looking at other ways or looking beyond this unemployment rate to gauge you
about it first watching the television. there is a trust deficit here. when kerry asked if he trusted putin, he said, wolf, there is some value in putin and that's why you keep hearing from u.s. officials they are going to keep watching what russia does this weekend. we know they are watching closely from the air, from the ground to see if the troop movements amount to anything where they go into the country. >> reminds me sort of the worlds of ronald reagan's in the '80s, trust but verify. >> that's right. john kerry says verify, verify, and then verify. >> the situation is tense. jim sciutto, thank you very much. more on the rising tensions in the u.s. but just ahead, former chris christie aides contain new information about the bridscand and they are sparking new outrage. in fact, they depend on a unique set of nutrients. [ male announcer ] that's why there's ocuvite to help protect your eye health. as you age, your eyes can lose vital nutrients. ocuvite helps replenish key eye nutrients. ocuvite is a vitamin made just for your eyes from the eye care experts at bausch + lomb. ocuvi
the deficit, is true as well. c.b.o. tells us that from the ten-year period covering the enactment of the law to a decade later, we're going to save about $1.2 trillion beyond what we additionally estimated. current trajectories we are going to be $250 billion under c.b.o.'s initial estimate for federal health care expenditures on an annual basis. that's big savings to the taxpayers, and when you combine that with the millions of americans who have coverage, you can see how the affordable care act is working. now, there is still work to do, and there are going to be debates on the floor of the senate about ways in which we could change and fix the affordable care act. we're reordering 1/6 of the american economy. there is no doubt going to be bumps along the road and no doubt going to be places where we can find bipartisan agreement on how we can fix the act, make it work even better. but the answer from our republican colleagues has been pretty simple so far. it has been to simply repeal the law. they say they want to repeal and replace it, but we have yet to see any evidence of that replace
would happen with the $17 trillion deficit? stuart: we have asked you this before. what are we going to do? you told us you are out there, we want to bring people together. not looking for a radical opposite to what is going on. you want to bring people together to find solutions and i know you have been out there looking. do you think it is possible to establish a consensus? is it possible to bring people together over a course of action that will take us in a different direction in the future? >> it is very possible. we need to start talking. never have a conversation with your adversary because that humanizes them and your job is to demonize the. we see a lot of that going on. that is not what we want. in the pre revolutionary days of america people need to get together with their friends and family and talk about what kind of america do you want to have? talk about who your representatives are and how did they vote. not how they said they voted but how did they vote. you need to know that because you need to talk to your 87-year-old and who hasn't voted in 20 years who may be an
amendment, legislation i support that will not add to the deficit. i amal cosponsor of this legislation, which provides -- i am a cosponsor of this legislation, which provides advanced appropriations for v.a. mandatory accounts, improves services and benefits for victims of military sexual trauma, enhances benefits for survivors and dependents of deceased or disabled veterans, encourages the hiring of veterans, and unlike the sanders' bill is fully paid for. as for the iran sanctions language in the burr amendment, as i noted yesterday, there is significant disagreement between the president and many members from both parties in both the house and the senate concerning the best way to prevent iran from acquiring a nuclear weapon. the iranian regime has carried out its best attempt at a charm offensive to forestall not only the implementation but the legislative consideration of even tougher sanctions, should the regime fail to fulfill its commitments, according to november's interim agreement. the interim agreement included a joint plan of action, agreed to by iran. according to that jo
't have enough import to fund our consumption or enough saving to support our deficit. what are we going to do if china changes and we don't. >> but i gather that you think they're on the ascendency and we are clearly on the decline. that is the -- i will say, that was my takeaway. >> they are rebalancing their model to keep the growth and development story going and that will certainly take them to a larger scale of their economy than ours, at some point in the next five to ten years. >> gdp. >> their per capta gdp, joe, is going to be increasing, but at a much slower pace. for a long time. >> multiplied out and that's why it's bigger. >> for a long time. are we on the decline? that's the big debate in america. we continue to undersave, underinvest in people, infrastructure, and capacity. and if we don't get that together, then their ascendency will coincide with our decline. >> we've had periods like this before. >> yeah. >> i mean, you're optimistic we get it together or do you think we're the roman empire? >> no, look, i hope we get it together. what i don't see is a debate on the st
to address the debt and deficit. his vice president told democrats at their retreat that they have no interest and won't push for trade promotional authority. and the president has said his focus will be going around congress instead of working with it. so we have two options. we can follow the president's lead and pack it in for the year, just wait for the election, or we can pursue our own vision and continue to present alternatives to the mess that the president has brought us over the last five years. and that's exactly what we will do. we'll lead and our members will not shy away from advancing better solutions for the american people. it's why our ways and means chairman has commenced a discussion about how to reform our broken tax system. that's why our leaders have outlined a vision for how we would tackle immigration reform. that's why chairman ryan will write a balanced budget that helps save our entitlement programs. and it's why our members will offer an alternative when it comes to obamacare. we'll offer better solutions on jobs, job training, education, and a host of
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